Arnold International Inc. (AI), headquartered in California, just bought electronic equipment from a supplier in Japan for JPY 100,000,000 with the payment due in three months. Al's WACC is 12% per annum. If Al hedges in the money market, what is the value of its payables in three months? (Assume the company uses the working capital for money market funds). Current Spot Rate 3-month U.S. Borrowing Rate 3-month Japan Borrowing Rate WACC 3-month U.S. Deposit Rate 3-month Japan Deposit Rate JPY118/USD 8% Per annum 5% Per annum 12% per annum 4% Per annum 1.6% Per annum USD 868,538.66 USD 818,280.37 USD 820,430.79 O USD 869,403.74 USD 870,704.59